Silver Shield Resources Corp.

Silver Shield Resources Corp.

February 01, 2007 09:15 ET

Silver Shield Completes 43-101 Technical Report on Welsh Silver Mine

TORONTO, ONTARIO--(CCNMatthews - Feb. 1, 2007) -

Tim D. Towers Reports

Silver Shield Resources Inc. ("Silver Shield") is pleased to announce that it has received a National Instrument 43-101 Report on its Welsh Silver Mines Property (the "Property") - a Qualifying Report written by Mr. Hadyn R. Butler, B.Sc. Hons., P. Geo. (APGO No.350).

The Welsh Silver Mine, a former silver producer, is located in Mickle Township approximately 8 kilometers to the west of the town of Elk Lake in the northwest part of the Cobalt to Gowganda Silver Belt of northern Ontario. Mineralization identified on the Property comprises native silver (Ag), argentite (Ag2S), chalcopyrite (CuFeS2), niccolite (NiAs), cobaltite (Co,Fe)AsS and native bismuth (Bi) within and adjacent to near-vertical calcite veins cross-cutting Nipissing Gabbro. The Property has numerous shafts, and the Welsh Silver Mine (with 2 shafts) was the focus of a recent Silver Shield work program consisting of the construction of a surface metric grid, surface mapping, the cleaning of old trenches along silver-bearing vein structures, and diamond drilling (1015.5 meters in 12 holes). This preliminary exploration program has established that there are numerous mineralized calcite veins to the east, south and north of those previously identified at the surface and during underground development and mining, providing immediate new targets for follow-up exploration.

The NI43-101 report reviewed previous work on the Property as well as current work and the objectives of the Silver Shield program. The author reviewed the style of mineralization in the Cobalt to Gowganda Silver Belt and found that the Welsh Silver Mine's silver-bearing veins are very similar to other mines in the Belt. The report strongly recommends that further exploration be continued on the Welsh Silver Mines Property, both at surface and underground using a two-phased approach. Silver Shield plans to follow up on these recommendations as part of its upcoming 2007 program. Phase I will be a surface exploration program consisting of surface grid extension, further mapping, geophysics and outcrop cleaning with an excavator, washing and sampling of exposed mineralized structures along with 1,500 meters of diamond drilling. Phase I will aid in defining the direction of a Phase II underground program to follow - a program including the de-watering and rehabilitation of an existing ramp to the 75 foot level of the Welsh Silver Mine, drifting along selected vein structures, sampling and mapping, as well as an underground diamond drilling program.

Budget estimates are Phase I at $425,100 and Phase II at $711,700 for a total of $1,136,800.

Contact Information

  • Silver Shield Resources Inc.
    Tim D. Towers
    (905) 319-3033
    (905) 319-2997 (FAX)
    Silver Shield Resources Inc.
    Raymond Lashbrook
    Vice President Exploration
    (705) 752-3957